CoreLogic (CLGX) has completed a preliminary estimate of the worst-case residential damage that could be caused by Hurricane Arthur if it continues on its current track.

The data shows the potential exposure to residential property damage from hurricane-driven storm-surge flooding as Hurricane Arthur makes its way toward the U.S. Atlantic Coast.

"On its current forecasted track, Arthur is aiming for the Carolinas on a projected path along the East Coast and will likely make landfall today," said Tom Jeffery, senior hazard scientist for CoreLogic Spatial Solutions. "It's unfortunate that the first official hurricane of the season is happening on such a big holiday weekend, and residents are advised to be aware and take watches and warnings seriously.

Sponsor Content

Click the map below to enlarge.

“Although Arthur is classified as a Category 1 storm, strong winds, heavy rain and rip currents caused by storm surge may have far-reaching effects into New England and even Canada," Jeffery said.

The data shows 163,274 total residential properties with a reconstruction value of $35,734,348,993 are in the area currently known as the "cone of uncertainty" and at risk of potential storm-surge damage, assuming the storm hits the coast as a Category 1 hurricane.

Total number and total reconstruction value of residential properties by projected affected by CBSA are:

Related Articles

Trey Garrison was a Senior Financial Reporter for HousingWire.com. Trey served as real estate editor for the Dallas Business Journal, and was one of the founding editors of D CEO Magazine. He has been an editor for D Magazine — considered among the best city magazines in the United States — and a contributor for Reason magazine.

Brena Swanson is formerly the Digital Reporter for HousingWire. Brena joined the HousingWire news team in February 2013, also serving in the roles of Reporter and Content Specialist. Brena graduated from Evangel University in Springfield, Missouri.

This month inHousingWire magazine

The appraisal industry is in the midst of huge disruption as automated valuation models and hybrid appraisal products gain favor with regulators and investors. What does the future hold for appraisers and appraisal companies as they adjust to the new realities of automation?

Feature

[Free HousingWire Magazine read] As Millennials grapple with paying off student loans, their opportunity to buy a home gets pushed further and further into the future. That delay has consequences far beyond individual students — the growing student debt crisis impacts every part of the economy.

Commentary

There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.